Going With The 60min Flow!!!

[Ank!t007]

You are so kind and generous.
Thank you sir.

Ankit

 

[lvgandhi]

August Series so far

Total booked P/L = +163pts.

ABAN Short from 2586-20=2566 SAR at 2393+20=2413.

Ankit

For Nifty, I think filter is not taken into account. Am I correct?

 

[sandeep721]

Dear Saint

Thanks a lot for the wonderful teachings that you have given us all. It has helped me immensely to go to the next level of understanding technical analysis.

My question is more related to money management. In the 60min flow thread, When we enter our 1st trade and lets suppose our risk is 12000 and stop loss is 60 points away, we will trade 200 nifty.

But when we add to our position then should we add 200 again or should we recalculate according to above rule because we have new entry level and new stop loss.

Would appreciate your reply on this matter at a convenient time.

Thanks a lot

Sandeep

 

[Prabhjeet]

I am not suggesting that is the way to do .....coz its saints method n he knows abt pyramiding...n still given his experience he has chosen to use adding same qty...so must have a good reason for it....

However having said that...if someone does consider pyramiding...Mini nifty can help u in pyramiding...if u choose...to do that...

for example..if someone is using...1 nifty to trade this method...he can start with 3 mini lots n have a add on of 2 and 1 as and when time comes......hope this makes sense...

I think using only minifty to enter & add is a better idea than adding minifty to nifty fut, can create a lot of confusion

 

[Prabhjeet]

Dear Saint

Thanks a lot for the wonderful teachings that you have given us all. It has helped me immensely to go to the next level of understanding technical analysis.

My question is more related to money management. In the 60min flow thread, When we enter our 1st trade and lets suppose our risk is 12000 and stop loss is 60 points away, we will trade 200 nifty.

But when we add to our position then should we add 200 again or should we recalculate according to above rule because we have new entry level and new stop loss.

Would appreciate your reply on this matter at a convenient time.

Thanks a lot

Sandeep

Hi Sandeep,

For the sake of keeping it simple we have been adding 1 lot of Nifty everytime to the position but if you want the ideal way for adding would as follows

calculate the risk amount you want to put like suppose 1% of total amount in your potfolio

calculate the first stop risk, suppose its 100 pts. away and you 1% risk money is 10000, so you buy 2 lots

Next time new pivot is formed you calculate how much risk remains on your initial entry + risk on you current add, suppose new pivot is 20 pts. away from your entry price and 80 from add point so again calculate 1% i.e 10000/100 = 100. So you can add 2 lots again so on & forth

 

[SamFisher]

Hi Sandeep,

For the sake of keeping it simple we have been adding 1 lot of Nifty everytime to the position but if you want the ideal way for adding would as follows

calculate the risk amount you want to put like suppose 1% of total amount in your potfolio

calculate the first stop risk, suppose its 100 pts. away and you 1% risk money is 10000, so you buy 2 lots

Next time new pivot is formed you calculate how much risk remains on your initial entry + risk on you current add, suppose new pivot is 20 pts. away from your entry price and 80 from add point so again calculate 1% i.e 10000/100 = 100. So you can add 2 lots again so on & forth

prabhjeetrana,
Ok.... Assume that stop loss has been hit and now on closure of current trade what do I have to do next? When do I enter next trade... at the change of trend based on the rules defined by the 60 min flow or on stop loss point reverse the trade?
Thanks

 

[Czar]

Sam Its Stop & reverse position... both simultaneous.

 

[SamFisher]

Sam Its Stop & reverse position... both simultaneous.

Thanks Czar, but for some time then I will be trading against the trend as the flow actually did not yet reverse the direction?

 

[Czar]

but why do you say so ? according to hourly principle, the pivots broke forming higher pivots so the flow reversed.... now it does'nt matter if market has a pull back as long as the low pivot - margin survives...

 

[Prabhjeet]

prabhjeetrana,
Ok.... Assume that stop loss has been hit and now on closure of current trade what do I have to do next? When do I enter next trade... at the change of trend based on the rules defined by the 60 min flow or on stop loss point reverse the trade?
Thanks

Sam I for myself use the stop method to get out of my previous position and enter the new one simultaneously, its like if I was holding 1 nifty long I will give sell stop orders for 2 lots so that I am immediately reverted to short positions